News Column

US Stocks Rise as Americans Go to Polls

Nov. 6, 2012
piggy bank with old glory

All three major US stock indexes saw gains Tuesday as Americans lined up to choose their next president.

The first order of business for the eventual winner, be it Barack Obama or Mitt Romney, will be to find a way to avoid the "fiscal cliff," 600 billion dollars of combined tax increases and spending cuts that will go into effect in 2013 if the US Congress can not reach a budget compromise.

The blue-chip Dow Jones Industrial Average rose 133.24 points, or 1.02 per cent, to 13,245.68. The broader Standard & Poor's 500 Index went up 11.13 points, or 0.79 per cent, to 1,428.39. The technology-heavy Nasdaq Composite Index increased 12.27 points, or 0.41 per cent, to 3,011.93.

The US currency slid against the euro to 78.04 euro cents from 78.14 euro cents on Monday. The dollar gained on the Japanese currency at 80.36 yen from 80.24.

Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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